Canara HSBC OBC Life Insurance ISelect+ Term Plan

• Insurance cover an amount which will not pinch your budget.
• An insurer can choose from different options of coverage with premium reimbursement and benefits payouts following the plan to your wants. 
• Options to cover for a short duration or your entire life. 
• The Option to cover through additional for inbuilt coverages like accidental death benefit, Child Support Benefit, accidental Total, or Permanent Disability services.
• The option of adding the Spouse in the same policy term with a discount on the price for the Spouse (wife). 
• Multiple premium payment options, which including earliest bullet pay for the entire term or payment for a short duration of 5/10/15/20/25 years or pay only during your working years, i.e., till the time you turned 60 years apart from payment throughout the Policy tenure. 
• Multiple options to receive benefits with as lump-sum monthly income or the part lump-sum amount by monthly income with the suggestions to choose both level / increasing incomes.
• Increase your life cover by changing life stages and protection needs in the same plan by augmenting cover at key life breakthroughs.
• Discount on premiums for higher Sums Assured and for female lives
• Loyalty discount for the existing patrons of the organization.
• You may ask for tax benefits on premiums paid and benefits received as per prevailing tax laws.

Plan Option Life

Under this Plan Option, in case of unfortunate demise or on a diagnosis of severing Illness or diseases, whichever happens, sooner, the Sum Assured on Demise is payable as a claim. The policy eliminates upon payout of the benefit or facilities. 

Both the Life Assured and the partner can be incorporated for the term of the contract, obedient to terms and conditions of the policy.

Plan Option Life with Return of Premium

Beneath this Plan Option, on the occurrence of unfortunate demise or on the diagnosis of serious Illness, whichever happens, earlier, during the Policy Tenure, Sum Assured on Demise is payable. If you outlive the Policy Tenure, the company will return the Total Premiums Paid by you at the time of maturity. The policy eliminates upon payment of these benefits.

Plan Option Life Plus

Under this Plan Option, the insurer will pay Sum Assured on Death on the occurrence of death or on the diagnosis of Terminal Illness, whichever happens, earlier. The policy terminates upon payment of the profit.

In case of survival till the age of maturity, the Total Premiums Amount Paid will be compensated to you on the date of maturity. Further, the policy will continue to post maturity until the event you can attain 99 years of age, which is the Extended Cover Duration.

During this period, Sum Assured will be paid on the occurrence of the demise of an insurer or on a diagnosis of Terminal Illness, whichever happens, earlier. On attaining age 99 years, the Sum Assured will be paid to you. The policy terminates upon payment of these benefits.

A. Customize your plan to suit your insurance requirements

Select one of the Coverage Options

• Level
• Extending
• Diminishing

Select any of the Optional In-Built Covers

• Accidental Death Benefit (ADB)
• Accidental Total & Continual Disability Benefit (ATPD) - Premium Protection or safeguard. 
• Accidental & Permanent Disability Benefit (ATPD) - Premium Protection Plus
• Child Support Benefit

Option to Cover Spouse, if Needed

Choose any one of the Benefit Payout Options

• Lumpsum
• Monthly Revenue
• Part Lumpsum & Part Monthly Income

For Part Lumpsum and Part Monthly Income, choose the proportion 25% / 75%, 50% / 50% and 75% / 25%.

Within Monthly Income, chosen level / extending (@ 5% p.a. or @ 10% p.a.) Monthly Income and select to receive it in equal monthly partial payment over 120 months or till the termination of the Policy Term or 40 years, whichever is initial.

Only Lumpsum Option is accessible beneath Whole Life Coverage under Life Plan Option.

Life with the return of premium

For Part Lumpsum and Part Monthly Income, choose the proportion 25% / 75%, 50% / 50% and 75% / 25%.

Within Monthly Income, choose level / Extending (@ 5% p.a. or @ 10% p.a.) Monthly Income and choose to be given it in equal monthly instalments over 120 months or by the end of the Policy Tenure or 40 years, whichever is earlier.

Only Lumpsum alternative is vacant under Whole Life Coverage under Life Plan Option.

Life Plus 

For Part Lumpsum and Part Monthly Income, choose the proportion 25% / 75%, 50% / 50% and 75% / 25%.

Within Monthly Income, choose level / Extended (@ 5% p.a. or @ 10% p.a.) Monthly Income and choose to be given it in equal monthly instalments over 120 months or until the end of the Policy Tenure or 40 years, whichever is earlier.

Only Lumpsum Option is available to opt under Whole Life Coverage beneath the Life Plan Option.

B. Once you have tailored the plan based on your need,

• Select your Sum Assured, Policy Term, Premium Payment Tenure, and Premium Payment Methods. 
• Reply few simple questions about you like age, gender, health status, lifestyle habits, tobacco/alcohol damages, and professional details
• Give a rise to your premium quote and share remaining relevant personal information related to your profession, lifestyle, and health; and details of your selectee, if applicable
• Read through the Policy Terms and situations and proceed to pay your premium online if you agree with them.